VA Loans

[HossHarris]

Set the purchase price 20k higher.

Hope the appraisal comes in.

Get cash out at closing.

Profit!

[lj35driver]

You can count me as another satisfied customer of NBOKC and Dave Devine. We closed on our re-fi on 30 Apr with zero out of pocket cost. Loan was 3.875% with $1700 incentive and only $1000 cost rolled into the loan. My payment went from $1745 on a $239K 30 yr fixed rate to $1411. Everything was done over the phone or email and the bank arranged for a local appraiser and lawyer to come to our home to take care of the paperwork. If I knew things were this simple then I would've done this sooner. I contacted USAA for a comparison and would've gotten a 4.25% with roughly $3000 out of pocket. Seems like about the only thing they're good for these days is good insurance rates.

[schokie]

Same here. I just closed on an original home purchase at 3.75% from NBoKC. I worked with Dave Nichols instead of Dave Devine, but the other Dave was awesome. He was quick to reply to any query even at odd hours. He made it an easy process with everything over the phone or email.

When I originally asked USAA for a quote it took them 3 days to get it to me and they only offered 4.0%. Dave got back to me with his quote in 2 hours of my initial request and even apologized for it taking so long. Great service.

I looked into a refi on my other VA loan, but since I've already refi'd at fairly competitive rates NBoKC wasn't able to make the refi worth my while. I regret not looking into it a year ago when rates were even better than now. I doubt we'll see those rates again.

[uhhello]

Seems like about the only thing they're good for these days is good insurance rates.

Thats a good one

[abmwaldo]

Has anyone here used a FHA 203(k) mortgage? I bought my current home with a VA loan last year, through NBOKC, and I'd like to do some improvements based on the sales price of comparable homes in the area (we paid 170K and the comps are selling between 225 and 250). The work I want done isn't cosmic but it's things such as: electrical panel upgrade from 100A to 200A, replace corroded galvanized pipe from water meter to home, etc…

I've read through the "Google" search returns that say the traditional 203(k) is a difficult process if the lending agent and contractor aren't familiar with the program, so it seems like the "streamline" 203(k) is the way to go. Just looking for personal experiences.

Edited May 11, 2014 by abmwaldo

[danielstevens]

Has anyone here used a FHA 203(k) mortgage? I bought my current home with a VA loan last year, through NBOKC, and I'd like to do some improvements based on the sales price of comparable homes in the area (we paid 170K and the comps are selling between 225 and 250). The work I want done isn't cosmic but it's things such as: electrical panel upgrade from 100A to 200A, replace corroded galvanized pipe from water meter to home, etc…

I've read through the "Google" search returns that say the traditional 203(k) is a difficult process if the lending agent and contractor aren't familiar with the program, so it seems like the "streamline" 203(k) is the way to go. Just looking for personal experiences.

I can't comment on others individual experiences, but with the amount of equity you mentioned, a VA cash out refinance may be something to look at. Most lenders can go up to 90% of the appraised value. That could net you about 30K in cash out based on those rough numbers. There are drawbacks to that route though, as the VA funding fee (if applicable) would need to be paid again, which may make it not cost effective in your situation. But probably worth at least exploring.

Dan

[badaducci]

^{I closed with National Bank of Kansas City about three weeks ago. The BEST lender I have ever dealt with, and my real estate agent said the same thing (he's been an agent for 20+ years).}

^{I worked with Tim Lander, and would recommend him. He was prompt at returning calls/emails/documents to myself and my agent within hours. He definitely went above and beyond. He blew the other mortgage rates out of the water. PM me with your e-mail address, and I can pass along details of the loan.}

Edited May 27, 2014 by badaducci

[Easy]

Recently worked a VA loan through David Devine at NBoKC. Definitely got a good deal and Dave was able to help me get through this while I was on a deployment. We also successfully worked a request for reconsideration of appraisal, so he's got some experience there if you find yourself in that situation. They blew USAA's offer out of the water and I'm sure I got much more personal service. Check 'em out!

[Dukeorions]

What do you mean by "blew USAA out of the water"? How so?

[chim richalds]

I know many of us are surgically attached to USAA for a bunch of stuff, but I've found their mortgage department to be the worst part of their business. Will be looking elsewhere for my next mortgage.

[C212135]

Sharon was an incredible professional throughout the buying process. I was able to lock in a great rate from the start and she walked me through all the details and terms, and answered all my questions and emails promptly. I applied for a 30 year VA loan and all the documents that were required for the loan could be scanned or emailed very easily. I ran into issues with my builder on a new house we were purchasing resulting in building delay after delay, and Sharon was able to get my loan extended after my lock had expired at no cost and no change in rate! This helped relieve any stress from an already stressful build. Both my builder and the this bank were headquartered out of the state I bought my house but Sharon kept the communication channels open seamlessly and got us to closing and into our dream house. I would highly recommend Sharon Farnsworth from National Bank of Kansas City if you are considering a home loan!!!

[BigE]

Yet another home buyer that benefited from the info in this thread.

Just closed on a home in Vegas in 30 days from offer to close while we were in Germany the whole time. Went with NBoKC because of their reputation here and they have the best deal going. Did plenty of research on a lender, to include USAA and local Vegas deals. NBoKC was by far the best. Despite the seller really wanting us to use a local guy we stuck with Tim Lander and NBoKC and I'm glad we did. They got the job done!

A huge part of what made things work in buying a home from across the pond was our agent in Vegas - Ben Correa (PM me for contact info if needed). He was recommended from friends and was/is awesome. Ben is totally professional while being a guy you would drink a beer with - someone I enjoyed doing business with. The guy rocked in every aspect of our transaction and does business like a bro.

Between what Tim/NBoKC and Ben/his title company put together we closed on a VA 30 yr loan with $2000 out of pocket closing costs (plus 5% down). I consider that a great deal. All in 30 days from 6000+ miles away, an out of state lender, 9 hour time difference and sellers that were split ops themselves moving out of state. Good people that I definitely recommend.

e

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[ARIs 'R' Us]

Yet another home buyer that benefited from the info in this thread.

And another.

+1 for NBoKC and Dave Devine. Just PCS'd to CA and like many our realtor wanted us to stay local, but they couldn't come close to what Dave offered...if you're debating between using NBoKC and local lender, or are concerned (like I was) about doing the whole deal via email/phone calls, feel free to PM and I'll be happy to share my whole experience. He let me know from the start what to expect, was always quick to respond to any questions (1st time buyer) via email and/or phone, and is a no BS guy. Couldn't recommend him and his bank more.

Details:

30 year VA, Zero down.

We chose 3.75% +$7.25K lender credit (negative points) over 3.5% w/no credit

Closed in 28 days

ddevine@bankofkc.com

[afthunderchief16]

Big 2 on recommending Dave. Closing this week after being in the market for a little over a year due to deployments and TDYs. Dave was extremely helpful the entire with keeping us in the loop with market changes while other brokers would have been content with bailing on us for taking so long.

Ended up putting an offer on the house we are buying while I was at TDY, my wife was out of town and Dave was on vacation but he was rock solid at maintaining the same level of support and ensuring that all of the documents made their way to the underwriter.

Pretty much same stats as ARIs 'R' Us: 3.75%/zero down/enough of a lender credit to cover the VA funding fee/30 day close

[Tank]

Big 3 on Dave Devine. We've started working with him on a VA buy in Florida and he has been more than helpful...

[jcj]

Just finishing up a VA loan refinance with them. Very helpful & efficient, everything handled by phone and/or internet. Quite impressed.

[AnimalMother]

I know many of us are surgically attached to USAA for a bunch of stuff, but I've found their mortgage department to be the worst part of their business. Will be looking elsewhere for my next mortgage.

Ain't that the truth. Wouldn't use USAA to buy my next house for anything. Don't care to use any of their financing services for that matter.

[gscott]

Another shout out for Dave Devine, I closed with NBOKC on July 7 and he beat USAA's rates by far. After five mortgages this one was the easiest by far. Dave's good faith estimate (GFE) was only $7 off the final numbers at closing......the best my realtor and title company said they have ever seen (20+ years experience).

3.75% with 7.5k lender credit (USAA quoted 4.0% with zero lender credits)

Closed in 35 days

[Bayou_Eagle_Driver]

Dave Devine must be chained to his desk, because I'll add another stellar recommendation for NBoKC. Worked from Oregon to purchase a house back home in Louisiana and Dave was beyond helpful for every step (we were first time home-buyers). He took the time to explain the details to us, and answered a TON of our questions almost immediately (even on weekends).

We got a rate that beat USAA, and an absolutely painless first home-buying experience. Not sure why you'd go anywhere else?

3.875% with 3k lender credit

Closed on schedule

[Mikey Donuts]

Besides providing me with endless hours of entertainment concerning upper management shenanigans, AFPC buffoonery, and pilot watches, I'll be forever grateful to BODN for one more thing....this thread. When a cynical bunch of crusty bastards consistently recommend something, odds are it's legit. After perusing this thread and looking at USAA rates I gave NBoKC a call.

Jackie Runk was my gal, and gents, she absolutely kicked ass. Super cool, efficient and extremely knowledgeable. I was able to get 3.5% on a 30 year fixed. Would have closed inside of 30 days but the seller had requested more time to move out. Jackie made the entire experience so smooth, I can't recommend her enough. Many thanks to her and to you guys for recommending the bank.

Now...back to reading about jackass Wing CCs!

Edited August 17, 2014 by Mikey Donuts

[pbar]

Yet another good experience with National Bank of Kansas City. I worked with Travis Smith for our mortgage and he was very patient, responsive, and helpful. I got a better interest rate than USAA offered and was able to close faster.

[OregonHerc]

I've used Mary Bennett at NBOKC for two loans now and like most on this thread, I can't recommend her enough. She even was able, after I locked at 3.75, to decrease my rate to 3.5% 2 days before closing on my latest loan (closed last week).

[so.it.goes]

Dave Devine added yet another satisfied customer to his list. Bought our first home at 3.75%-30 year fixed VA loan, and could have closed in just a couple weeks, if it wasn't for the sellers.

I went to the NBoKC website and filled out an interest application late one night, and Dave got back to me early the next morning, with my VA certificate of eligibility already in hand.

I was incredibly impressed with his work ethic and dedication, and his willingness to help out at any time of day. He actually was the one who caught something in one of the sellers' counter-offers that would have cost us a pretty decent amount of money if it hadn't been fixed. I'm pretty sure that falls under the job description of our real estate agent, but Dave busted out the calculator and went to work for me anyway.

Good guy, and I would highly recommend him and NBoKC to anyone on the board.

[Flybynight]

Quick question......any of you Reserve guys use you VA for a purchase? Wondering what percentage funding fee you are paying. I was told the rate is higher than a AD member applying for the same.

[chim richalds]

Funding fee is based in how much you put down, google it and you can see a chart. I believe if you put 5-10% down your funding fee is 1% of your loan.

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